Comments due on OCC proposal to rescind its 2020 CRA Rule
The OCC has announced publication of Bulletin 2021-41 with a notice soliciting comments on proposed rules that would rescind the OCC's Community Reinvestment Act (CRA) rule issued in 2020 and replace it with rules adopted jointly by the Federal banking agencies in 1995, as amended. This action facilitates the ongoing interagency work to modernize the CRA regulatory framework and promote consistency for all insured depository institutions.
The proposed rules would apply to all national banks and all federal and state savings associations. Comments must be received on or before October 29, 2021.
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Guaranty Bank and Trust pays $80,500 flood insurance penalty
Issued by FDIC
Collins State Bank pays $2,000 for flood insurance violations
Issued by FDIC
Horicon Bank pays $23K for flood insurance violations
Issued by FDIC
Range Bank pays $4K for Flood Insurance violations
Issued by FDIC
Brighton Bank pays $4,125 flood insurance penalty
Issued by FDIC
Select Bank pays $9,600 for flood insurance violations
Issued by FRB
Regions Bank pays $2.95M for flood insurance violations
Issued by FRB
Deutsche Bank Trust Company Americas pays flood penalty
Issued by FRB
Customers Bank pays $41,500 flood insurance penalty
Issued by FRB
Easthampton Savings Bank pays $17K flood insurance penalty
Issued by FRB
PNC Bank, NA, pays $2.6M for flood insurance violations
Issued by OCC
Michigan bank pays $3.6 million for flood insurance penalties
Issued by OCC
Washington Federal pays flood penalty
Issued by OCC
The Federal Savings Bank pays $193K flood penalty
Issued by OCC
USAA FSB pays $382,500 flood insurance penalty
Issued by OCC
Former credit union BSA officer fined $100K for multiple BSA violations
Issued by FinCEN
Shinhan Bank America fined $25M by FDIC, FinCEN, and NYSDFS
Issued by FDIC, FinCEN, State Agency
Puerto Rican IBE pays $15M for willful BSA violations
Issued by FinCEN
Kingdom Trust Company pays $1.5M BSA penalty
Issued by FinCEN
Bittrex, Inc., fined $5M for BSA Act violations
Issued by FinCEN
Bank of Morton ordered to pay $600,000 for BSA violations
Issued by FDIC
Shinhan Bank America fined $25M by FDIC, FinCEN, and NYSDFS
Issued by FDIC, FinCEN, State Agency
Bancorp Bank pays BSA/AML penalty
Issued by FDIC
California Pacific Bank to pay BSA/AML penalty
Issued by FDIC
Alma Bank - BSA/AML penalty
Issued by FDIC
Metropolitan Commercial Bank fined $29.5M for CIP and vendor risk deficiencies
Issued by FRB, State Agency
National Bank of Pakistan pays $55.4M for AML violations
Issued by FRB, State Agency
U.S. Bancorp pays $15M for BSA/AML failures
Issued by FRB
Mega International Commercial Bank pays $29M BSA penalty
Issued by FRB, State Agency
Deutsche Bank AG to pay $41M penalty for AML deficiencies
Issued by FRB
Sterling Bank and Trust FSB pays $6 million for failings
Issued by OCC
CommunityBank of Texas fined for BSA/AML violations
Washington Federal Bank pays $2.5M BSA/AML penalty
Issued by OCC
NJ bank director and BSA officer pay for BSA violations
Issued by OCC
First Abu Dhabi Bank USA pays BSA/AML penalty
Issued by OCC
Interactive Brokers LLC paying $38M for BSA/AML failures
Bank of China NY Branch gets BSA fine
Aegis Capital assessed $1.3 million for SAR filing failures
FINRA fines Credit Suisse Securities $16.5M for AML faults
Issued by FINRA
Albert Fried & Company pays for SAR failures
Issued by SEC
OCC fines JPMorgan Chase Bank, N.A. for inadequate monitoring
Issued by OCC
Fed fines JPMorgan Chase & Co. $98.2M for inadequate monitoring
Issued by FRB
City National Bank pays $65M for systemic deficiencies
Issued by OCC
CoinList Markets LLC settles with OFAC for $1.2M+
OFAC settles with Nasdaq, Inc., for $4,040,923 for apparent violations
Issued by OFAC